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Rise

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>TSCO stock price: The stock price started rising after October of last year, despite the company’s average financials&nbsp;&nbsp;</a> </li> 
 <li> <span>2</span> <a>The stock is in a consolidation zone with the EMAs between resistance and support</a> </li> 
 <li> <span>3</span> <a>The RSI is at its overbought zone. See whether investors can make a breakout.&nbsp;</a> </li> 
</ul> 
<p>Tesco Plc (LON: TSCO) is a multinational company, listed on the London Stock Exchange. Tesco is a retailer that offers a variety of general merchandise through its multi-format stores and also from its online platform. Their product range includes edible and non-edible items. Moreover, the group also provides consultancy, retail banking, and insurance services through Tesco Bank in the UK. The TSCO stock has a market cap of over £19B making it a large cap company.</p> 
<h2 class="wp-block-heading" id="strong-the-rise-of-bulls-strong"><strong>The Rise of Bulls</strong></h2> 
<p>The TSCO stock started rising at the end of October 2022. Investors believe that the bullish trend came after the publishing of its half-yearly financial report in August that year. However looking back a year from now, this is not the whole story.</p> 
<h3 class="wp-block-heading" id="strong-what-is-the-actual-reason-for-the-trend-reversal-strong"><strong>What is the actual reason for the trend reversal?</strong></h3> 
<p>First look at the half-yearly report, the revenue came up as £32B, which is a growth of the usual 6% on average. In addition to this, the Cost of Goods sold (COGS) went over the usual limit. Hence, the gross profit was sacrificed to an extent. Fast forward to the net profit, there was a decline of 64% on a Year-on-Year basis.</p> 
<p>The other side of the story revolves around the movement of TSCO stock with the FTSE 100 index. One of the major factors for a trend reversal in any stock is the broader market index. In this case, the company is a constituent of FTSE 100. When looking back, a similar pattern is observed in both chart patterns.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-tsco-stock-price-strong"><strong>Technical Analysis and Prediction of TSCO Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/Fx21q8dSGIlJkaI0n5V1D5vXgNG_ZjWGu2jw6lbs6lizzlGjabG7V9r9OJS8zZzxO7Q2M965bMbUmHyCv79C-sRQ-NjOqI-15aFpxYAsUBkYepaubQHNUQqa1AOfDJqpcSgQjhgmDFG-4nzq8-T4-Q0" alt="Tesco Plc Stock Price Analysis: Are Bulls Controlling the Price?"> 
  <figcaption class="wp-element-caption">
    Chart provided by <a href="https://in.tradingview.com/chart/1SBAxzHq/?symbol=LSE%3ATSCO" rel="noopener noreferrer nofollow">TradingView</a> (daily time frame) 
  </figcaption> 
 </figure> 
</div> 
<p>The TSCO stock price is consolidated between its immediate resistance level of £276 and an immediate support level of £245 at the press time. If the stock breaks the first resistance, it will move towards its 2nd resistance level of £293. On the contradictory, breaking the support will lead it to the 2nd support of £222.</p> 
<p>Moreover, the 200-day EMA and 50-day EMA are between the immediate support and resistance. The TSCO stock price has taken a rebound from its resistance. The bulls will try to take support for the EMAs to aim for a possible breakout. However, the RSI line at 64 is already in its overbought zone. The TSCO stock price rebounded after the RSI line touched the level of 70.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion:</strong></h3> 
<p>The TSCO<a href="https://www.thecoinrepublic.com/2023/09/21/hln-stock-price-bears-gave-up-after-the-reinforcement-of-50-ema/" rel="noopener noreferrer nofollow"> stock price</a> prediction will be bullish as some strength is seen in the current candles. The buyers have been pushing the price despite the stock being in an oversold zone as per the RSI. This stock is likely to take the support of its EMAs and shoot up to break the immediate resistance level.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<p>Support:£245, and&nbsp; £222</p> 
<p>Resistance: £276, and £293</p> 
<p><strong>Disclaimer</strong></p> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Tesco Plc Stock Price Analysis: Are Bulls Controlling the Price?

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